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Coty Buys Back Shares

Coty said the purchase is part of the firm’s share repurchase strategy.

COTY SHARE BUYBACK: Coty Inc. has agreed to purchase 27.9 million shares of Class B common stock owned by Berkshire Partners and Rhone at a price of $17.78 per share. The total consideration to be paid for the stock purchase will be $468 million.

Coty said the purchase is part of the firm’s share repurchase strategy.